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A Hundred Years of Devaluation

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  • BillJonesBillJones Posts: 34,757 ✭✭✭✭✭

    @BLUEJAYWAY said:

    @privatecoin said:
    Design is all but dead. Look at modern matchstick housing. Everything looks the same now days. Not to mention poor quality too.

    In reference to the above cars. I've often wondered how police can tell one car brand from another. I know I can't. I tried to unlock a white car that resembled mine in a parking lot once. Just about a dead ringer for mine, but a different brand.

    Yep, they all look the same. My wife has trouble finding her SUV in the parking lot. Next time she has agreed to get a color other than white which will make it easier to find.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • SmudgeSmudge Posts: 9,808 ✭✭✭✭✭

    @BillJones said:

    @Smudge said:
    The main damage was done when the gold and silver were removed from coins.

    What choice do the government have in 1965? Once the silver coins melted for more than their face value, there was no way to keep them in circulation.

    As for the gold, the Franklin Roosevelt administration decided to take control of it and devalued the dollar to make U.S. exports more attractive abroad. We can debate that policy, but in the modern world a gold dollar would be about as big as a grain of sand. More was involved with that "inflation" than merely taking gold out of domestic circulation.

    But for collectors, coins with gold and silver are generally more attractive.

  • messydeskmessydesk Posts: 20,276 ✭✭✭✭✭

    @Manifest_Destiny said:
    ... Elizabeth Jones was given some great subject material, but had trouble with perspectives.

    Washington and his out-of-socket arm is an example.

    Grab a chair, a broom, and a trash can lid and pose like the Liberty Seated design.

  • coinkatcoinkat Posts: 23,809 ✭✭✭✭✭

    @privatecoin

    Thank you for making me feel better for those times I have walked to the wrong car.

    I suppose if I still had my 1959 Olds 98 2 dr, it would still be problem for someone else, Sadly, I doubt that there is an Edsel in my future but I would settle on a 1957 Lincoln Continental Mark II.

    Experience the World through Numismatics...it's more than you can imagine.

  • Morgan WhiteMorgan White Posts: 8,452 ✭✭✭✭✭

    @messydesk said:
    Grab a chair, a broom, and a trash can lid and pose like the Liberty Seated design.

  • jmlanzafjmlanzaf Posts: 36,284 ✭✭✭✭✭

    @Smudge said:

    @BillJones said:

    @Smudge said:
    The main damage was done when the gold and silver were removed from coins.

    What choice do the government have in 1965? Once the silver coins melted for more than their face value, there was no way to keep them in circulation.

    As for the gold, the Franklin Roosevelt administration decided to take control of it and devalued the dollar to make U.S. exports more attractive abroad. We can debate that policy, but in the modern world a gold dollar would be about as big as a grain of sand. More was involved with that "inflation" than merely taking gold out of domestic circulation.

    But for collectors, coins with gold and silver are generally more attractive.

    Coins are meant for commerce.

  • BillJonesBillJones Posts: 34,757 ✭✭✭✭✭

    @Smudge said:

    @BillJones said:

    @Smudge said:
    The main damage was done when the gold and silver were removed from coins.

    What choice do the government have in 1965? Once the silver coins melted for more than their face value, there was no way to keep them in circulation.

    As for the gold, the Franklin Roosevelt administration decided to take control of it and devalued the dollar to make U.S. exports more attractive abroad. We can debate that policy, but in the modern world a gold dollar would be about as big as a grain of sand. More was involved with that "inflation" than merely taking gold out of domestic circulation.

    But for collectors, coins with gold and silver are generally more attractive.

    I wouldn't argue with that, but what collectors like and collect and what is used in commerce can be very different things.

    I only collect the silver Proof sets these days. The base medals sets mostly have a bad track record with respect to value. The silver ones might not hold their value, but at least you have some silver.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • WalkerfanWalkerfan Posts: 9,718 ✭✭✭✭✭

    I actually like the reverse of the Sacagawea dollar.

    Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍

    My Full Walker Registry Set (1916-1947):

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • originalisbestoriginalisbest Posts: 5,971 ✭✭✭✭

    Sacs are wonderful designs -- my only regret about them was the mint's "almost idea" (not sure if it was close at all to happening) to strike some in gold, at around the $10 eagle weight/price point. That would be a great US mint product to buy -- I suppose they still could, if the mood strikes.

  • MaywoodMaywood Posts: 2,843 ✭✭✭✭✭

    @BillJones said: What choice do the government have in 1965? Once the silver coins melted for more than their face value, there was no way to keep them in circulation.

    Not true, they had a choice the same as in the mid-19th Century, hence the issues with arrows at the date to note the weight change.

    "Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety," --- Benjamin Franklin

  • BillJonesBillJones Posts: 34,757 ✭✭✭✭✭

    @Maywood said:
    @BillJones said: What choice do the government have in 1965? Once the silver coins melted for more than their face value, there was no way to keep them in circulation.

    Not true, they had a choice the same as in the mid-19th Century, hence the issues with arrows at the date to note the weight change.

    The compromise was to retain some silver in the 40% silver clad half dollars, but the future was plain for anyone who wanted to face facts. The days for circulating silver coinage were drawing to a close. Even if the coins melted for less than their face value, speculators were going to withdraw the, from circulation. Some dealers were paying 8% over face for 90% silver in the late 1960s.

    I wrote a term paper in college about the Coinage Act of 1965. The representatives from the western mining states wanted to continue with the silver coinage. They wanted the government to continue buying large amounts of silver to support the market. Much of the rest the country, including the silver flatware industry, wanted to eliminate the silver. The 40% silver half dollar was seldom seen in circulation, and the silver eliminated in 1971.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • pmh1nicpmh1nic Posts: 3,337 ✭✭✭✭✭

    @originalisbest said:
    Sacs are wonderful designs -- my only regret about them was the mint's "almost idea" (not sure if it was close at all to happening) to strike some in gold, at around the $10 eagle weight/price point. That would be a great US mint product to buy -- I suppose they still could, if the mood strikes.

    Are registry sets being compiled of Sac coins? I think some of the ongoing interest will depend on whether individuals choose to put together sets. As mentioned before I don't think there are the types/varieties (mint marks, die states, variations of toning, etc.) that would make them as interesting to collect versus Morgans. Some of that is due to metal and technology.

    The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
  • OverdateOverdate Posts: 7,155 ✭✭✭✭✭

    @originalisbest said:
    Sacs are wonderful designs -- my only regret about them was the mint's "almost idea" (not sure if it was close at all to happening) to strike some in gold, at around the $10 eagle weight/price point. That would be a great US mint product to buy -- I suppose they still could, if the mood strikes.

    <
    They did strike a few.

    My Adolph A. Weinman signature :)

  • Morgan WhiteMorgan White Posts: 8,452 ✭✭✭✭✭

    @Overdate said:

    @originalisbest said:
    Sacs are wonderful designs -- my only regret about them was the mint's "almost idea" (not sure if it was close at all to happening) to strike some in gold, at around the $10 eagle weight/price point. That would be a great US mint product to buy -- I suppose they still could, if the mood strikes.

    <
    They did strike a few.

    You'd think a coin related company would understand "Obverse" and "Reverse"

  • pmh1nicpmh1nic Posts: 3,337 ✭✭✭✭✭

    I posted this in another thread on Sacs but it's somewhat related to the general appeal so it might be relevant here with respect to the popularity of the design...

    "Looking at the PCGS pricing guide MS-68 looks like the sweet spot. Quite a few are $200+ with a few over $1K and 2006-D at $4.5K. In MS-69 there are only eight values given (few years graded in 69?) and the 2005-D is at $8K."

    There is no telling how long coinage in general is going to last. My guess is not very long given the push to digital. Does the ending of coinage in general mean a growing interest in collecting Sacs or does the interest diminish?

    The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
  • Walkerguy21DWalkerguy21D Posts: 11,672 ✭✭✭✭✭

    @Walkerfan said:
    I actually like the reverse of the Sacagawea dollar.

    How about with a little toning?

    Successful BST transactions with 171 members. Ebeneezer, Tonedeaf, Shane6596, Piano1, Ikenefic, RG, PCGSPhoto, stman, Don'tTelltheWife, Boosibri, Ron1968, snowequities, VTchaser, jrt103, SurfinxHI, 78saen, bp777, FHC, RYK, JTHawaii, Opportunity, Kliao, bigtime36, skanderbeg, split37, thebigeng, acloco, Toninginthblood, OKCC, braddick, Coinflip, robcool, fastfreddie, tightbudget, DBSTrader2, nickelsciolist, relaxn, Eagle eye, soldi, silverman68, ElKevvo, sawyerjosh, Schmitz7, talkingwalnut2, konsole, sharkman987, sniocsu, comma, jesbroken, David1234, biosolar, Sullykerry, Moldnut, erwindoc, MichaelDixon, GotTheBug

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